The Uruguay Round of the GATT Negotitions on Agriculture

This is a breakdown of the results and discussion of GATT (General Agreement of Tariffs and Trade) negotiations ended on December 30th, 1990. At the time of this writing, agricultural products had been a highly protective market sector in both exporting and importing countries. Freer trade worried both exporting and importing countries as they did not want to lose control of these markets or face negative consequences by loosening such. The Uruguay round of the GATT meetings were different in that it's aim was to limit distortions in the world agricultural marketplace. Surplus production of agricultural products actually results has increased competition amongst exporters and reduced prices. This resulted in reduced farm income and the need for more government government subsidy of farms. A table outlining the summarisation of selected proposals in this particular GATT negotiations on agriculture is given. The outcome of the Uruguay Round was cited as being unpredictable.